(55 ILCS 5/5-1195) Sec. 5-1195. Powers of specified counties to create or preserve affordable housing. Counties having a population of greater than 750,000 residents and fewer than 2 million residents and counties having the county executive form of government and a population of greater than 650,000 and fewer than 2 million residents, according to the most recent federal decennial census, may: (1) acquire real property for the purpose of creating or preserving affordable housing for households making up to 140% of the area median income annually; (2) enter into agreements to transfer real property, with any unit of local government, including forest preserve districts created under the Downstate Forest Preserve District Act, any school district, or the State, for the purpose of creating or preserving affordable housing for households making up to 140% of the area median income annually; (3) enter into agreements to donate, lease below market rate, or sell below market rate, real property for the purpose of the creation or preservation of affordable housing for households making up to 140% of the area median income annually; (4) undertake any activity permitted by the Affordable Housing Planning and Appeal Act for the purpose of creating, developing, encouraging the development, or preservation of the development of affordable housing for households making up to 140% of the area median income annually; and (5) select purchasers and lessors for properties held by the county, a county land bank, or county land trust. The selection of purchasers and lessors under paragraph (5) shall be made in a manner designed to increase and maintain affordable housing within the county without regard to the fair market value of the real property.
(Source: P.A. 104-554, eff. 7-10-26.)